Cross-border supervision of M&As
MONETARY POLICY MID-TERM REVIEW 2007-08/ SUPERVISION AND REGULATION
| Accordingly, it has constituted a working group to lay down the road-map for adoption of a suitable framework for cross-border supervision with overseas regulators, consistent with the framework envisaged in the Basel Committee on Banking Supervision (BCBS). |
| The RBI has been working closely with the Monetary Authority of Singapore and Hong Kong Monetary Authority in the past. |
| "With Indian banks setting up operations globally and banks taking exposure to global companies, exchange of information among regulators becomes very important. |
| "Just taking this point beyond banks, the introducing the recent guidelines on participatory notes (PN), the regulators are aiming at managing flows and focusing on ensuring that they can identify the holder of the PN as well,'' said Bhaskar Ghose, managing director, IndusInd Bank. |
| "The RBI is trying to ensure that Indian banks with global aspirations are well-regulated. This is also to ensure that they are not caught in any global liability,'' said Ashvin Parekh, partner, national leader, Global Financial Services. |